- Report: #60570
Complaint Review: VICTORY MORTGAGE - DOUGLASVILLE Georgia
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VICTORY MORTGAGE
9459 HIGHWAY 5 SUITE F & G DOUGLASVILLE, 30135 Georgia, U.S.A.
Phone:
770-293-9500
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VICTORY MORTGAGE INC LIES, DECEPTION, UNETHICAL PREDATORY LENDER PROMISE TO LOWER RATES, THEY CHOOSE YOUR LOAN AND DESTROY YOUR LIFE DOUGLASVILLE Georgia
I am a first time homebuyer and as such I elected to use a mortgage broker to assist me in finding the best mortgage loan for me. I contacted a friend of mine who worked for Victory Mortgage named Sonya Feagans. After approx. 1 week, Sonya told me she had me "approved" through the Fannie Mae program with 100% financing at 5.5 percent, and giving me written proof of approval. I put a contract on the home that day. The next day I went into Sonya's office on Thursday, May 1, 2003 to sign the loan paperwork and noticed that Sonya had intentionally withheld documents from both myself and my real estate agent that listed certain conditions. Sonya assured me she could work the loan out.
The next day Sonya Feagans was arrested on four (4) counts felony charges for theft and forgery. In her absence, my file was given to the assistant manager of the Douglasville branch, Sam Douglas. Sam called me on Friday, May 9, 2003 and told me that he had my loan approved and yet again receiving written proof of the "approval". I went into the office to again sign the loan papers only to be told they had approved me for an 80/20 loan (the 80% being at 6.775 percent and the 20% being 10.5 percent). After looking over the paperwork, I told Sam the fees were too high. He then told me he would ask for the appraised amount and change the contract to say the Sellers paid up to 6% of the closing cost and then they would give me approximately $3,100.00 at the closing (under the table of course, which is illegal). Sam Douglas made it appear that my dream would finally come true and I could own my dream home. I signed the paperwork that Friday night.
From this point on my dream quickly turned into my worst nightmare. For three (3) weeks I didnt hear one word from Sam. The day before closing, Sam called me and told me the loan had changed again (3rd time) to a 30-year fixed at 8.675 interest and I told Sam this would not work. I reminded Sam of the closing the next day and of the fact that I would have to be out of my current home by June 7, 2003. Sam stated he could fix it.
On the morning of my closing, I called Sam to find out if he had worked the loan out. Sam told me he was waiting on word from the lender. Again I asked about the closing and he assured me that the closing would take place. I arrived at the attorneys office at 12:30. The sellers, the attorney, my real estate agent, my two daughters and I sat at the attorneys office for 6 hours that day, only to be told now that I had NEVER been "approved on any loan". To say the least, my closing never occurred.
On Wednesday June 4, 2003, my real estate agent and the sellers went to the office of Sam Douglas. Via a telephone conversation, Sam Douglas presented us with yet another (4th time)loan approval from Countywide for a 30-year fixed. Sam also advised the seller, my real estate agent and myself that all fees associated with this loan that was to be paid to Victory Mortgage had been waived and the only fees to be paid at closing would be to Countrywide. At this point, I had contacted Ben Smith (the Regional Manager of Victory Mortgage) and Henry Devore (the owner of Victory Mortgage) and everyone seemed completely unconcerned as to my situation. The time frame currently gave me three (3) days to vacate my current residence and Victory Mortgage was completely aware of this fact; I had no choice but to agree with these terms.
When we arrived at the closing the next day, the loan had yet changed again (5th time) to a 3-year ARM at 8.02 percent.
From a starting point of written approval for a 30-year fixed at 5.5%, through 5 different loans, I end up with a 3-year ARM at 8.02%. All fees that had been waived the day before was now reflected on my Settlement Statement indicating that Victory Mortgage was to be paid $595.00. Nothing was as it was to have been.
At approximately 7:00 pm on Thursday, June 5, 2003, I signed a loan agreement that no person should have been forced into signing. I have been lied to and deceived by every person I have dealt with from Victory Mortgage. I, along with my two children, was placed in a position that was completely terrifying if not tormenting. Victory Mortgage took advantage of this situation. Numerous events have occurred during this experience that were unethical, illegal and outright wrong.
Renee
Villa Rica, Georgia
U.S.A.
The next day Sonya Feagans was arrested on four (4) counts felony charges for theft and forgery. In her absence, my file was given to the assistant manager of the Douglasville branch, Sam Douglas. Sam called me on Friday, May 9, 2003 and told me that he had my loan approved and yet again receiving written proof of the "approval". I went into the office to again sign the loan papers only to be told they had approved me for an 80/20 loan (the 80% being at 6.775 percent and the 20% being 10.5 percent). After looking over the paperwork, I told Sam the fees were too high. He then told me he would ask for the appraised amount and change the contract to say the Sellers paid up to 6% of the closing cost and then they would give me approximately $3,100.00 at the closing (under the table of course, which is illegal). Sam Douglas made it appear that my dream would finally come true and I could own my dream home. I signed the paperwork that Friday night.
From this point on my dream quickly turned into my worst nightmare. For three (3) weeks I didnt hear one word from Sam. The day before closing, Sam called me and told me the loan had changed again (3rd time) to a 30-year fixed at 8.675 interest and I told Sam this would not work. I reminded Sam of the closing the next day and of the fact that I would have to be out of my current home by June 7, 2003. Sam stated he could fix it.
On the morning of my closing, I called Sam to find out if he had worked the loan out. Sam told me he was waiting on word from the lender. Again I asked about the closing and he assured me that the closing would take place. I arrived at the attorneys office at 12:30. The sellers, the attorney, my real estate agent, my two daughters and I sat at the attorneys office for 6 hours that day, only to be told now that I had NEVER been "approved on any loan". To say the least, my closing never occurred.
On Wednesday June 4, 2003, my real estate agent and the sellers went to the office of Sam Douglas. Via a telephone conversation, Sam Douglas presented us with yet another (4th time)loan approval from Countywide for a 30-year fixed. Sam also advised the seller, my real estate agent and myself that all fees associated with this loan that was to be paid to Victory Mortgage had been waived and the only fees to be paid at closing would be to Countrywide. At this point, I had contacted Ben Smith (the Regional Manager of Victory Mortgage) and Henry Devore (the owner of Victory Mortgage) and everyone seemed completely unconcerned as to my situation. The time frame currently gave me three (3) days to vacate my current residence and Victory Mortgage was completely aware of this fact; I had no choice but to agree with these terms.
When we arrived at the closing the next day, the loan had yet changed again (5th time) to a 3-year ARM at 8.02 percent.
From a starting point of written approval for a 30-year fixed at 5.5%, through 5 different loans, I end up with a 3-year ARM at 8.02%. All fees that had been waived the day before was now reflected on my Settlement Statement indicating that Victory Mortgage was to be paid $595.00. Nothing was as it was to have been.
At approximately 7:00 pm on Thursday, June 5, 2003, I signed a loan agreement that no person should have been forced into signing. I have been lied to and deceived by every person I have dealt with from Victory Mortgage. I, along with my two children, was placed in a position that was completely terrifying if not tormenting. Victory Mortgage took advantage of this situation. Numerous events have occurred during this experience that were unethical, illegal and outright wrong.
Renee
Villa Rica, Georgia
U.S.A.
1 Updates & Rebuttals
Sonya
Temple,Georgia,
U.S.A.
A very much over played "poor pittyful me story!"
#2UPDATE EX-employee responds
Tue, March 28, 2006
I wish I had caught this sooner, but better late than never I always say. I am Sonya Feagans---mentioned frequently in the "rip off" article on Victory Morgage. I will address all the issues at hand best I can considering it has been a couple of years. Renee was truthful about her being a first time home buyer and she was half honest about our relationaship at the time. I was not just a friend, I was her "best friend" at the time. I wanted that made clear so that people would understand that I knew most everything about her. I NEVER gave her an approval letter, she was "pre-approved" and there is a BIG difference in the two. I also explained to her that for her to get 100% financing she had to meet these "certain" conditions and she REFUSED. I NEVER "HID" ANYTHING FROM HER or her agent! If you would have seen her credit, you would know why! God forbid that she actually get something and PAY for it. I won't go into detail due to the privacy laws, but let's just say that had it been me, I would not have been STUPID enough to believe that I could've been approved for 100% financing from ANY lender. See, I wanted to make things easy for her and give her ALL of her options ahead of time---All these dates she mentions in her letter makes no difference to me, only because when I was dealing with her, it was NEVER a loan. All I did was take her information and advise her to pay off some of the "bad debts" she had. No one could have gotten a 5.5% interest rate at 100% with her credit, someone with good credit has a hard time doing that well with a loan. She also mentions that I was arrested, she was correct with that bit of information as well, the charges were correct, however she likes to make it sound as if I was being arrested for something that happened with Vicotry Mortgage. I was arrested on unrelated charges due to something totally different. I was very gateful that Victory Mortgage stood by me through this ordeal. Sam Douglas was given her file due to my arrest. She likes to make it sound like I was in jail for an eternity. I was there for for a weekend and a day. See, Victory Mortgage understood that you are NOT guilty until proven so,which by the way NEVER happened. The entire office supported me through the whole process and because Renee's loan was SOOOOOOOOOOOO complicated due to her "LESS THAN PERFECT CREDIT" I left well enough alone. Poor Sam, I felt so sorry for him. Renee had a habit of always trying to get something for nothing. She made a habit of filing "law suits" against people for some very crazy things. Sam just got caught in the middle of her lies and schemes. I could give you several people's names who were unfortunately victims to her lies, schemes and games to make a "quick" buck. I never gave much thought to her way of life until it affected people I know and cared about. I felt so bad for bringing her into that business and into the County where I live so that we could be closer. I accomplished that let me just say. While I was going through the legal issues she felt so compelled to bring up, I was having to sit in jail for that weekend from hell, she made it a point to "entertain" my then, husband. My family thought it was a little odd that she would be at my house with my husband that whole weekend when I was in such dire straits. I certainly didn't mean to get off on that subject, however, you all need to know what kind of person wrote that article. Vicotry Mortgage is a fine business who generally makes it a point to HELP people, NOT hurt them. I worked there only for a short while, but my step-father and a couple of friends work there still and as far as I know, Renee is the ONLY complaint I can think of. My goodness, that should say something in itself. Thay have closed a lot of loans and been doing business a long time. Sam Douglas is a wonderful loan officer. I would trust him with my own home loan, however I am one of the few people who actually understands that I need to clean up my credit a bit before I can qualify for a 100% loan with a 5.5% interest rate. I will also be one of the few that will pay off some of my derrogetory credit before I think about getting something for nothing. Sam Douglas has closed countless loans. He didn't make his money and get where is by being stupid. You can bet that he did everything by the book and straight forward. I respect him and I know that he will continue to prosper and go far in his career. One glitch from a selfish, spoiled, cry baby will not be enough to bring a company with an outstanding reputation like Victory Mortgage and Sam Douglas down. I have learned that if you cry, whine and throw temper tantrums like a three year old toddler, that sometimes you can actually get what you want. Country Wide was so scared they bowed down to the little princes and gave her a new loan, bless her little poor pittyful heart. She had to wait for hours and hours and she HAD to move. What ever, she was living in her bosses house----she didn't have to move anywhere. If anyone was tormented and taken advantage of, it was Sam Douglas and Victory Mortgage. I know because I was part of her life for more than forteen years. I have to say, thanks to her back stabbing and tantrums I am no longer her friend. It has truly been, in spite of the legal problems I had to face, the most quiet and peaceful three years I have had in oh, about forteen years. I learned so much from watching Renee take advantage of people and I appreciate the art of TRUE friendship and consideration. God bless Victory Mortgage and Sam Douglas and from the bottom of hear please forgive me for bringing that viper into your business.
